11/06/2010

Broker Price Opinion as a temp fix?Do you really believe that 's your best course of action?

Listen up. If you're a realtor, you need to listen to me. I am a broker so I get it. After 2007 the market just blew up. I've been hoping that the number of agents would continue to drop and that we'd reach an equalibrium where you could make money again. Hasn't happened, though. Everyone is saying this market was unforeseeable. That's not true if we're honest with ourselves. We knew that third quarter late pays for 2006 were a record breaker.Like everyone else, I thought broker price opinions were a great option to ride out the storm. They are not what you think, though --The first problem is the big lie. No, you won't get listings from banks for doing bpo's for them.Next, you don't really make anything when its all said and done.Lastly, there's not enough work out there to generate real money.Of course I am preaching to the choir. Your field is real estate and the skills are not transferrable. The good news is that I do have a real option for you. An option that makes really big money. With the help of a very smart investor that I've worked with in the past, I've come up with a system that can make you incredible money. It can replace what you have lost and then some.We're talking huge money. And the money is created at foreclosure auctions. Let me take a step back, first.

It all begin about 5 years ago. I was involved in deed flipping with a friend. We had a situation where we had purchased a deed and thought we'd be able to flip the deed at the courthouse steps and make a good hit. Instead, we got no takers. In this instance, the only debt against the property was a single mortgage. The property was going to sell for quite a bit more at the auction. The point was to sell the deed to one of the bidders. That bidder would then be able to redeem the deed for just what was being foreclosed upon and own the property. This would save the bidder a lot of money. Because the payoff and what they paid us totalled less than the total bid on the property. We couldn't sell the deed at the foreclosure sale. Of course we had the option of paying off the mortgage and owning the home outright.. We had too many irons in the fire. We let the deal go and then opened up the file to see what happened in these situations.What we found blew our minds. In this case the house sold at auction for far over the amount owed against it. The surplus funds were sent by the foreclosure attorney to the county courthouse book keeper. After some inquiries, we found out that this was the norm. Get this. As the deed holder, my investor and I were the rightful owners of this overage!

We had paid $3,000 for a deed and now could collect $50,000 for our trouble. WHUT!Of course, this changed everything. We went back to the court house to see if we could get a list of other overages that had been deposited. Finally, after asking the right question we got the list for the county. And it was crazy money.And we found the loophole that would allow us to make way more than a mere finder makes.Don't waiver - check this out: